Reported 11 months ago
Usage of India's digital currency, the e-rupee, has decreased significantly after hitting a peak in December. The digital currency pilot initiated by the Reserve Bank of India reached a target of 1 million retail transactions per day by December 2023, with banks incentivizing users and distributing salaries through the e-rupee. However, daily transaction numbers have fallen to around 100,000, signaling a lack of organic demand. The RBI aims to focus on testing the technology and developing more use cases to enhance adoption.
Source: YAHOO